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Launched

Defiance Daily Target 2X Long AMAT ETF

AMANasdaqCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$20.60−3.14 (−13.23%)

At close: Oct 13, 2026, 4:00 PM

C48/ 100

Rank 89 of 380 in Single-Stock Long Leveraged

C48/100Rank 89 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 23.74 to 20.60. Range 19.57 to 22.30. Use the arrow keys to read each point.20.0022.0023.0010 AM12 PM2 PM4 PM
Expense ratio
1.31%
Fund size
$30M
1Y total return
—
Yield · Last 12 months
—
Holdings
7
Avg volume · 30D
0.3M sh
NAV per share
$24.70
52W range
low $16.64high $62.00
Launched

The ETF.net AMA Grade

Based on 4 of 6 pillars

C

Score 48 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
89 of 380
Six-pillar profile for AMA. Scores out of 100: Cost 27, Risk 60, Mission not scored, Tradability 74, Holdings not scored, Durability 62. Strongest: Tradability (74). Weakest: Cost (27). Based on 4 of 6 pillars.

Score 48 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D27 out of 100
    Rank 265 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B60 out of 100
    Rank 113 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A74 out of 100
    Rank 67 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B62 out of 100
    Rank 116 of 380

Our read on AMA

ETF.net Research

COne stock, doubled, one trading day at a time. AMA targets two times the daily percentage move in Applied Materials shares, before fees, with the leverage reset at the end of every session.

Stated mandate

The Fund seeks daily investment results equal to two times the daily percentage change in Applied Materials, Inc.'s share price, before fees and expenses.

Why people hold it

  1. 01The mandate is unusually legible: two times the daily percentage change in Applied Materials stock, before fees. No index, no basket, no wondering what's under the hood.defianceetfs.com
  2. 022x sits at the calmer end of the single-stock leverage shelf: a 1% day in AMAT targets roughly a 2% day here, before fees and expenses.
  3. 03Built as a registered 1940 Act fund, so you get the familiar exchange-traded wrapper rather than a note leaning on a bank's credit.defianceetfs.com

Worth knowing

  1. 01At 1.29% a year, the fee sits above the typical 2x single-stock fund and well above 0.75% peers such as ASMG and AMDG.
  2. 02The leverage resets daily. Hold past a day and compounding takes the wheel, so multi-day results can land far from 2x the stock's move over that stretch.
  3. 03A 2026 launch with a short operating history and no distributions to date, so there is less track record here than the long-running 2x lineups carry.

AMA Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
7
Top-10 weight
257%
Largest holding
United States Treasury Bill 11/19/202655.8%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202655.79%16,100,000$16M56
002—Applied Materials, Inc.-Swap-Nbcb-L46.70%26,979$13M1
003—Applied Materials, Inc.-Swap-Nmra-L42.96%24,815$12M1
004—Applied Materials, Inc.-Swap-Mrex-L39.64%22,898$11M2
005—Applied Materials, Inc.-Swap-Cant-L35.51%20,510$10M2
006—Applied Materials, Inc.-Swap-Clst-L35.22%20,346$10M3
007—First American Government Obligations Fund 12/01/20311.45%415,534$416K529

Showing 1–7 of 7 holdings

AMA Performance

Launched Apr 30, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
AMA$5,951
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. AMA $5,951. SPY $10,332. Use the arrow keys to read each point.$3,753$7,294$10,834Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AMA. Periods over one year show the average yearly return.
PeriodAMA
Year to dateFund launched this year—
1 month+15.0%
3 months−40.5%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AMA
YearReturn barAMA
2026 YTD+18.7%

Since listing, Apr 30, 2026

AMA in the news

Filtered to AMA · Single-Stock Long Leveraged

AMA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

AMA Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
7.18
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AMA Cost

Expense ratio1.31%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

245 of the 333 Single-Stock Long Leveraged funds charge less.

AMA costs $131.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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